Fund managers are barely paying attention to the drama in Washington, because they say it's impossible to make bets ahead of a debt resolution. And nearly every fund manager expects a resolution, even if it goes down to the wire.

"I'm still of the camp that this will get solved at the very last minute, and until then, there's nothing to do," a manager of a $6 billion hedge fund who requested anonymity said Monday morning.

"But, if nothing gets solved by October 17th and the Dow drops 1,000 points, I'm a buyer," he added.

Several other fund managers echoed his sentiments Monday. Few, if any, intend to make any trades with the debt ceiling in mind. That is unless Congress actually lets the U.S. default.